Chegg, Inc. (NYSE:CHGG) Given Consensus Rating of "Reduce" by Brokerages

Chegg, Inc. (NYSE:CHGG - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the seven ratings firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $2.08.

Several research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Chegg in a report on Tuesday, February 25th. Morgan Stanley reiterated an "underweight" rating and set a $1.25 target price (down previously from $2.00) on shares of Chegg in a research report on Tuesday, January 14th. Finally, Piper Sandler lowered their price target on Chegg from $1.50 to $1.00 and set an "underweight" rating on the stock in a report on Tuesday, February 25th.

Hedge Funds Weigh In On Chegg

Hedge funds have recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new stake in Chegg in the 3rd quarter valued at about $56,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chegg by 14.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 911,333 shares of the technology company's stock valued at $1,613,000 after purchasing an additional 118,403 shares during the period. FMR LLC grew its stake in Chegg by 12.5% in the third quarter. FMR LLC now owns 323,018 shares of the technology company's stock worth $572,000 after purchasing an additional 35,892 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Chegg by 389.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 100,774 shares of the technology company's stock worth $178,000 after purchasing an additional 80,183 shares during the period. Finally, Firsthand Capital Management Inc. raised its position in Chegg by 1,030.4% during the 3rd quarter. Firsthand Capital Management Inc. now owns 260,000 shares of the technology company's stock valued at $460,000 after purchasing an additional 237,000 shares in the last quarter. 95.18% of the stock is currently owned by institutional investors.

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Chegg Stock Performance

NYSE CHGG traded up $0.00 on Friday, reaching $0.62. 1,906,824 shares of the stock were exchanged, compared to its average volume of 3,781,840. The firm has a market capitalization of $65.00 million, a PE ratio of -0.08 and a beta of 1.52. Chegg has a one year low of $0.60 and a one year high of $7.68. The company's 50-day simple moving average is $1.12 and its two-hundred day simple moving average is $1.56. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.31.

Chegg Company Profile

Chegg, Inc operates a direct-to-student learning platform that helps learners build essential life and job skills to accelerate their path from learning programs in the United States and internationally. Its subscription services include Chegg Study, which offers personalized step-by-step learning support from AI, computational engines, and subject matter experts, as well as Tinger Gold and DashPash Student services; Chegg Writing that provides students with a suite of tools, such as plagiarism detection scans, grammar and writing fluency checking, expert personalized writing feedback, and premium citation generation; Chegg Math, a step-by-step math problem solver and calculator that helps students to solve problems; Chegg Study Pack, a bundle of various subscription product offerings, including Chegg Study, Chegg Writing, and Chegg Math services; and Busuu, an online language learning platform that offers comprehensive support through self-paced lessons, live classes with expert tutors, and a community of members to practice alongside.